ViXS Reports Third Quarter 2016 Results

                                                                            
Thousands of US Dollars                                                     
                         As at October 31, As at July 31,  As at January 31,
                               2015             2015             2015       
                         ---------------------------------------------------
                                                                            
Cash and cash                                                               
 equivalents (1)         $           4,758$           6,582$          15,289
Trade accounts                                                              
 receivable                          3,408            2,853            4,104
Inventories                          3,339            4,281            2,868
Non-Current Assets (2)              10,770            8,289            9,615
                         ---------------------------------------------------
Total assets             $          24,386$          26,242$          35,844
                         ===================================================
                                                                            
Trade payables                       2,644            3,932$           6,465
Accrued liabilities                  3,224            3,013            6,656
Revolving bank loan                                                         
 payable                             4,800            2,500                0
Deferred revenues                       14               72              168
Total liabilities                   12,958           11,833           16,525
                         ---------------------------------------------------
Total liabilities and                                                       
 shareholders' equity    $          24,386$          26,242$          35,844
                         ===================================================
                                                                            

NON-IFRS FINANCIAL MEASURES

In addition to disclosing results in accordance with IFRS as issued by the International Accounting Standards Board, the Company also provides supplementary non-IFRS financial measures as a method of evaluating the Company's performance. These non-IFRS measures are disclosed as a supplement to financial results prepared in accordance with IFRS in order to provide a further understanding of ViXS' results of operations from management's perspective. In particular, ViXS uses non-IFRS measures to provide investors with supplemental measures of its operating performance and highlight trends in its core business that may not otherwise be readily apparent solely from IFRS measures. ViXS management uses non-IFRS measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess ViXS' ability to meet its future capital expenditure and working capital requirements. ViXS believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers.

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